Assignment: Wage Structure and Salary Issues
Consistency in compensation structures is important from a planning and equity perspective. Organizations typically seek to align their wage structures for ease in management as well as equity and overall compensation. The organization is exploring pay for performance approach to individual wage administration. The Vice President of HR has decided that if adopted, a range method would most align with the company's compensation philosophy.
Considering this please address the following prompts in your discussion:
1. There are four primary ways that organizations align their wage structures. Select the one that most aligns with your organization then discuss how this alignment is applicable as demonstrated in your company's compensation practices.
2. What are the key elements in designing a pay-for-performance system?
3. Discuss the benefits and challenges of managing employees through various salary rate ranges. How can the salary ranges help prevent internal and external equity issues?
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.